Talent Management Tools are big business: it’s estimated that the value of the market sits at around $5 billion USD. Last year, Forbes estimated a jaw-dropping growth of 17%. Unsurprisingly, many start-ups and established names in the IT industry have launched talent management products. With the sheer level of supply, it’s clear that it’s a buyer’s market.
Nonetheless, it’s easy to get in a state of analysis paralysis. To help guide you in the direction of the most popular (and best performing) tools out there, we give you our top 5 talent management tools of 2015.
CornerstoneOnDemand is one of the fastest-growing players in the talent management game, having shown an impressive 39% in revenue growth in 2014. The company aims to serve larger businesses by offering a large feature suite catered to training and employment.
The advantage of Cornerstone is its focus on connectivity and communication. It acts very much like its own social platform, encouraging close collaboration amongst employees. The application is also cloud-based, meaning you can load it up from anywhere in the world without a glitch. All you need is an internet connection. It works well on both tablets and smartphones, making it a versatile solution for the modern organisation.
The company’s parent company is a household name, with IBM driving forward Kenexa’s initial launch in 1997. Many Fortune 500 companies list Kenexa as their Talent Management solution, showcasing its popularity in the marketplace.
Kenexa can be best described with two words: robust and powerful. Considering its maturity, it’s no surprise that it offers one of the most comprehensive feature lists on the market. There’s little you won’t be able to do with this solution.
Conversely, its age perhaps holds the platform back to some degree. Some modules could use a new lick of paint, with the UI being a little out-dated compared to newer systems. Nevertheless, Kenexa offers a reliable solution that can pretty much do anything you need it to.
Halogen’s TalentSpace is cloud-based, multi-featured, and comes bundled with purpose-built versions for both tablets and mobiles. What we really like about this product is that the company offers specific modules catering to a selection of verticals including professional services, manufacturing, education, health care, and hospitality.
Halogen has been particularly lauded for its user-friendliness, intuitive UI, and an overall modern and slick look and feel. The product has been on the market since 2001, which is really reflected in its level of maturity and lack of software bugs. It’s not difficult to see why Halogen’s client list includes big hitters such as NetworkSolutions, Meetup, and Toshiba.
This company has nestled itself amongst the top performers ever since its inception in 2001. SuccessFactors gives users a full talent management suite, with modules handling performance, recruitment, learning, and compensation being amongst the most popular features.
SuccessFactors works on the SaaS basis and is intuitive to use, with most users getting to grips with the suite quickly and without fuss. It also offers language packs, making it a brilliant solution for international businesses.
WorkDay’s Human Capital Management was launched in November 2006 and has since become known for its forward-driven strategy and commitment to modern solution that befit our technological world. The company’s platform is arguably the best performer when it comes to mobile applications, with its UI intuitive and modules constantly improved and upgraded.
What perhaps sets Workday apart is its active user base, meaning you can collaborate with other users to improve performance, troubleshoot bugs, and discuss best user applications for modules and features. The potential downside of this project is the lack of maturity for a selection of recent feature sets, making bugs a little more commonplace. Nevertheless, a solid option for businesses of all sizes.
Each and every one of the above tools comes highly recommended and has a wide user base that’s satisfied with the product. Ultimately, it really comes down to your organisation’s specific needs. Talent management tools will differ on available feature sets, with some being only partially present or completely absent. A vendor may excel in both performance reports and UI, but if it’s missing what you need it’s a non-starter.